In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the second focuses on costs. I also cover t he idea of diseconomies of scale. And, of course, you get a bonus round. Let me know what you think and please subscribe.
Video about short run production-
https://www.youtube.com/watch?v=xLSRMt-wWAM
Need help? Check out the UltimateReviewPacket for FREE: https://www.acdcecon.com/review-packet
WatchEpisodes of Econmovies-
https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH
Check out the TV showHow It's Made to see more economies of scale at work-
https://www.youtube.com/channel/UCjHsPBHX1NNbIqTy4eXVTig

Check out Lumerit to learn how you can do college for $4,000 a year or less: https://go.lumerit.com/wendover
AndyGeorge's Channel (How to Make Everything): https://www.youtube.com/channel/UCfIqCzQJXvYj9ssCoHq327g
SupportWendover Productions on Patreon: http://patreon.com/wendoverproductions
Chances are if you make a chicken sandwich yourself it will cost less than $5, but Andy George's chicken sandwich cost $1,500 because he made everything from scratch. What causes this huge difference in cost between chicken sandwiches made from scratch and bought at the grocery store?
Big thanks to https://www.shutterstock.com for providing loads of great stock footage for this video.
Youtube: http://www.YouTube.com/WendoverProductions
Twitter: http://www.Twitter.com/WendoverPro
Email: WendoverProductions@gmail.com
Reddit: http://Reddit.com/r/WendoverProductions
Music by LewisBergenSound Design by Graham Haerther
Big thanks to Patrons: Peter Ramkissoon, Jon, f4r, KonradArmitage, Iracha Tantiwongchaichan, BradyBellini, TarasHalan, Maco2035, Connor J Smith, Victor Zimmer, JoshBerger

published:08 Nov 2016

views:2223613

Business students need to be aware of the concept of economies of scale, which enable a business to benefit from lower unit costs as output rises. This revision video explains the concept.

published:24 Apr 2016

views:53595

If you like the video please like & share the video & do subscribe to this channel for more such video. Thank you for watching the video.

published:12 Mar 2018

views:4968

published:24 Sep 2010

views:224981

In this video, we will see the main differences between Economies of Scale vs Economies of Scope
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
-------------------------------------------------------------------------------------------------
Economies of Scale are applied for a very long time in industry.Whereas, Economies of Scope is relatively new approach to business economics and strategy.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞?
-----------------------------------------------------
Economies of Scale occur when a firm reaches a manufacturing point where production costs no longer increase, but are lowered. It only happens in the production of bulk.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞?
-------------------------------------------------------
Economies of Scope occur when a company makes a variety of products and production costs are reduced due to manufacturing variety of products.
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐊𝐞𝐲 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
--------------------------------------------------------------------------------------------------------
#1 - Economies of scale is all about increasing production units. Whereas, Economies of scope is all about increasing production varieties.
#2 - Economies of scale focus on only one type of product. Whereas, Economies of scope focus on product varieties.
#3 - Economies of scale is relatively old concept.Whereas, Economies of scope is a relatively new idea.
#4 - Economies of scale depends more on one product's production capacity.Whereas, Economies of Scope depends more on the firm's infrastructure to produce various products under one heading.
If you want to know more about differences between 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞, you can visit the 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐡𝐞𝐫𝐞:-
https://www.wallstreetmojo.com/economies-of-scale-vs-economies-of-scope/

published:12 Feb 2019

views:3536

Click here to discover how to drive sales to your products or services online with one simple formula: http://www.deytips.com/theformula
Learn more about the formula here:
https://www.youtube.com/watch?v=fGnsAwEB7OM --~--
Click here: http://www.deytips.com/advanced/expanding-ebay-business/
Let me sell your products or services for you: http://www.proudagent.com
Economies of scale definition: Economies of scale is simply the decrease in costs that a business experiences as a result of that particular business growing in size.
Why is economies of scale important?:
In this video I don't only define economies of scale but I also speak about how it can practically help you and your business. If you are serious about really growing your eBay sales, it’s time to start to scale your business. Although scale may seem like something daunting, if done correctly, it could mean a sizable increase in your profit margins. In this video I explain the benefits of economies of scale and I demonstrate how this concept could be used to expand your eBay selling into a fully blown eCommerce business. Economies of scale is an economic term and is used to describe the financial advantages to expanding your business.
Subscribe:
http://www.deytips.com/subscribe
Facebook:
http://www.deytips.com/facebookpage
Twitter:
https://twitter.com/Deytips
Pinterest:
https://uk.pinterest.com/deytips/
Google plus:
http://www.deytips.com/googleplus
Udemy:
https://www.udemy.com/u/sarmaddey/
LinkedIn:
http://www.deytips.com/linkedin
This video URL:
http://youtu.be/rYuYAH-Juws
Business email:
Sam@deytips.com
Sam Dey

published:08 Sep 2015

views:5737

Should you buy a single product while ordering something online or you should order everything you need at once?
As an example for economies of scale, I try to answer the question in a simplified manner.

published:08 Sep 2017

views:6462

Discover our eBooks and Audiobooks on
Google Play Store
https://play.google.com/store/books/author?id=IntroBooks
AppleBooks
https://books.apple.com/lu/author/introbooks/id1076678595
Kobo
https://www.kobo.com/us/en/search?query=introbooks&fcsearchfield=AuthorAmazon
https://www.amazon.com/IntroBooks/e/B01B9J0IFM/ref=dp_byline_cont_book_1
Audible
https://www.audible.com/search?searchAuthor=IntroBooks
Scribd
https://www.scribd.com/author/443542810/IntroBooks
IntroBooks
https://readintrobooks.com
The beginning of this economic concept, #economies of the scale, can be dated back to Adam Smith who was a Scottish pioneer of political economy and an important key figure during the Scottish Enlightenment Era and was based on the idea of obtaining greater production return profits through the use of the division of labor.
#Economiesofthescale are referred to as cost advantages that a company gets by altering its levels of production processes.
The company gets its advantages through economies of scale due to the inverse relationship that exists between the per unit fixed cost and the quantity produced.
The lesser the quantity of produce, greater will be the per unit fixed cost of the product.
The implementation of the economies of scale can take place at any of the firm stages of the production processes including all the levels economic production of the commodity except the one that comprises the involvement of the buyer.

published:09 Aug 2018

views:1184

Y2 6) Economies and Diseconomies of Scale. Everything you need to know regarding Economies and Diseconomies of Scale, the link to the long run average cost curve and returns to scale
For Products, Services and Bookings visit https://econplusdal.com
Instagram: https://www.instagram.com/econplusdal
Twitter: https://twitter.com/econplusdal
Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
End Music: Relax byPeyruis https://soundcloud.com/peyruis Creative Commons — Attribution3.0 Unported — CC BY 3.0http://creativecommons.org/licenses/by/3.0/ Music promoted by AudioLibrary https://youtu.be/NvCDF7iUgIA

published:05 Feb 2019

views:17133

Economies of scale and comparative advantage let us make bigger and better oranges, grapes, and everything else. For more Dan Russell, watch https://www.youtube.com/watch?v=_sLET3sqMgU
Russell, Daniel. "Economies of Scale and Comparative Advantage." YouTube. Learn Liberty, 15 June 2017.
SUBSCRIBE: http://bit.ly/2dUx6wg
LEARN MORE:
What Caused The Economic Boom of Wealth? - Learn Liberty (video): ProfessorDeirdre McCloskey explains the explosion of wealth in the world since 1800, and how all that wealth was created. https://www.youtube.com/watch?v=a0nsKBx77EQ
"Trade Is Made of Win," Part 1: Wealth Creation (video): Professor Art Carden explains how exchange and trade create wealth for everyone involved. https://www.youtube.com/watch?v=y0gGyeA-8C4
When JobsKill Wealth (blog): Professor GaryGalles makes the case that instead of being so focused on “creating jobs,” we should be focused on creating wealth. http://www.learnliberty.org/blog/when-jobs-kill-wealth/
TRANSCRIPT:
For a full transcript please visit: http://www.learnliberty.org/videos/economies-of-scale-and-comparative-advantage
LEARN LIBERTY:
Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://www.learnliberty.org/.

Economies of scale

In microeconomics, economies of scale are the cost advantages that enterprises obtain due to size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.

Often operational efficiency is also greater with increasing scale, leading to lower variable cost as well.

Economies of scale apply to a variety of organizational and business situations and at various levels, such as a business or manufacturing unit, plant or an entire enterprise. For example, a large manufacturing facility would be expected to have a lower cost per unit of output than a smaller facility, all other factors being equal, while a company with many facilities should have a cost advantage over a competitor with fewer.

Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis.

The economic concept dates back to Adam Smith and the idea of obtaining larger production returns through the use of division of labor.Diseconomies of scale are the opposite.

Scale length (string instruments)

When referring to stringed instruments, the scale length (often simply called the "scale") is considered to be the maximum vibrating length of the strings to produce sound, and determines the range of tones that string is capable of producing under a given tension. In the classical community, it may be called simply "string length." On instruments in which strings are not "stopped" or divided in length (typically by frets, the player's fingers, or other mechanism), such as the piano, it is the actual length of string between the nut and the bridge.

String instruments produce sound through the vibration of their strings. The range of tones these strings can produce is determined by three primary factors: the mass of the string (related to its thickness as well as other aspects of its construction: density of the metal/alloy etc.), the tension placed upon it, and the instrument's scale length.

On many, but not all, instruments, the strings are at least roughly the same length, so the instrument's scale can be expressed as a single length measurement, as for example in the case of the violin or guitar. On other instruments, the strings are of different lengths according to their pitch, as for example in the case of the harp or piano.

Scale (map)

The scale of a map is the ratio of a distance on the map to the corresponding distance on the ground. This simple concept is complicated by the curvature of the Earth's surface, which forces scale to vary across a map. Because of this variation, the concept of scale becomes meaningful in two distinct ways. The first way is the ratio of the size of the generating globe to the size of the Earth. The generating globe is a conceptual model to which the Earth is shrunk and from which the map is projected.

The ratio of the Earth's size to the generating globe's size is called the nominal scale (= principal scale = representative fraction). Many maps state the nominal scale and may even display a bar scale (sometimes merely called a 'scale') to represent it. The second distinct concept of scale applies to the variation in scale across a map. It is the ratio of the mapped point's scale to the nominal scale. In this case 'scale' means the scale factor (= point scale = particular scale).

Diseconomies of scale

Causes

Communication costs

Ideally, all employees of a firm would have one-on-one communication with each other so they know exactly what the other workers are doing. A firm with a single worker does not require any communication between employees. A firm with two workers requires one communication channel, directly between those two workers. A firm with three workers requires three communication channels between employees (between employees A & B, B & C, and A & C). Here is a chart of one-on-one communication channels required:

The one-on-one channels of communication grow more rapidly than the number of workers, thus increasing the time, and therefore costs, of communication. At some point one-on-one communications between all workers becomes impractical; therefore only certain groups of employees will communicate with one another (salespeople with salespeople, production workers with production workers, etc.). This reduced communication slows, but doesn't stop, the increase in time and money with firm growth, but also costs additional money, due to duplication of effort, owing to this reduced level of communication.

Economies of Scale and Long-Run Costs- Micro Topic 3.3

In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the second focuses on costs. I also cover t he idea of diseconomies of scale. And, of course, you get a bonus round. Let me know what you think and please subscribe.
Video about short run production-
https://www.youtube.com/watch?v=xLSRMt-wWAM
Need help? Check out the UltimateReviewPacket for FREE: https://www.acdcecon.com/review-packet
WatchEpisodes of Econmovies-
https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH
Check out the TV showHow It's Made to see more economies of scale at work-
https://www.youtube.com/channel/UCjHsPBHX1NNbIqTy4eXVTig

economies of scale

Why Chicken Sandwiches Don't Cost $1500

Check out Lumerit to learn how you can do college for $4,000 a year or less: https://go.lumerit.com/wendover
AndyGeorge's Channel (How to Make Everything): https://www.youtube.com/channel/UCfIqCzQJXvYj9ssCoHq327g
SupportWendover Productions on Patreon: http://patreon.com/wendoverproductions
Chances are if you make a chicken sandwich yourself it will cost less than $5, but Andy George's chicken sandwich cost $1,500 because he made everything from scratch. What causes this huge difference in cost between chicken sandwiches made from scratch and bought at the grocery store?
Big thanks to https://www.shutterstock.com for providing loads of great stock footage for this video.
Youtube: http://www.YouTube.com/WendoverProductions
Twitter: http://www.Twitter.com/WendoverPro
Email: WendoverProductions@gmail.com
Reddit: http://Reddit.com/r/WendoverProductions
Music by LewisBergenSound Design by Graham Haerther
Big thanks to Patrons: Peter Ramkissoon, Jon, f4r, KonradArmitage, Iracha Tantiwongchaichan, BradyBellini, TarasHalan, Maco2035, Connor J Smith, Victor Zimmer, JoshBerger

8:40

Economies of Scale

Economies of Scale

Economies of Scale

Business students need to be aware of the concept of economies of scale, which enable a business to benefit from lower unit costs as output rises. This revision video explains the concept.

1:15

Economies of Scale

Economies of Scale

Economies of Scale

If you like the video please like & share the video & do subscribe to this channel for more such video. Thank you for watching the video.

7:49

economies of scale - a quick explanation

economies of scale - a quick explanation

economies of scale - a quick explanation

8:42

Economies of Scale vs Economies of Scope | Top Differences You Must Know

Economies of Scale vs Economies of Scope | Top Differences You Must Know

Economies of Scale vs Economies of Scope | Top Differences You Must Know

In this video, we will see the main differences between Economies of Scale vs Economies of Scope
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
-------------------------------------------------------------------------------------------------
Economies of Scale are applied for a very long time in industry.Whereas, Economies of Scope is relatively new approach to business economics and strategy.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞?
-----------------------------------------------------
Economies of Scale occur when a firm reaches a manufacturing point where production costs no longer increase, but are lowered. It only happens in the production of bulk.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞?
-------------------------------------------------------
Economies of Scope occur when a company makes a variety of products and production costs are reduced due to manufacturing variety of products.
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐊𝐞𝐲 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
--------------------------------------------------------------------------------------------------------
#1 - Economies of scale is all about increasing production units. Whereas, Economies of scope is all about increasing production varieties.
#2 - Economies of scale focus on only one type of product. Whereas, Economies of scope focus on product varieties.
#3 - Economies of scale is relatively old concept.Whereas, Economies of scope is a relatively new idea.
#4 - Economies of scale depends more on one product's production capacity.Whereas, Economies of Scope depends more on the firm's infrastructure to produce various products under one heading.
If you want to know more about differences between 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞, you can visit the 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐡𝐞𝐫𝐞:-
https://www.wallstreetmojo.com/economies-of-scale-vs-economies-of-scope/

Click here to discover how to drive sales to your products or services online with one simple formula: http://www.deytips.com/theformula
Learn more about the formula here:
https://www.youtube.com/watch?v=fGnsAwEB7OM --~--
Click here: http://www.deytips.com/advanced/expanding-ebay-business/
Let me sell your products or services for you: http://www.proudagent.com
Economies of scale definition: Economies of scale is simply the decrease in costs that a business experiences as a result of that particular business growing in size.
Why is economies of scale important?:
In this video I don't only define economies of scale but I also speak about how it can practically help you and your business. If you are serious about really growing your eBay sales, it’s time to start to scale your business. Although scale may seem like something daunting, if done correctly, it could mean a sizable increase in your profit margins. In this video I explain the benefits of economies of scale and I demonstrate how this concept could be used to expand your eBay selling into a fully blown eCommerce business. Economies of scale is an economic term and is used to describe the financial advantages to expanding your business.
Subscribe:
http://www.deytips.com/subscribe
Facebook:
http://www.deytips.com/facebookpage
Twitter:
https://twitter.com/Deytips
Pinterest:
https://uk.pinterest.com/deytips/
Google plus:
http://www.deytips.com/googleplus
Udemy:
https://www.udemy.com/u/sarmaddey/
LinkedIn:
http://www.deytips.com/linkedin
This video URL:
http://youtu.be/rYuYAH-Juws
Business email:
Sam@deytips.com
Sam Dey

3:14

Example for Economies of Scale

Example for Economies of Scale

Example for Economies of Scale

Should you buy a single product while ordering something online or you should order everything you need at once?
As an example for economies of scale, I try to answer the question in a simplified manner.

4:42

Introduction to Economics of Scale

Introduction to Economics of Scale

Introduction to Economics of Scale

Discover our eBooks and Audiobooks on
Google Play Store
https://play.google.com/store/books/author?id=IntroBooks
AppleBooks
https://books.apple.com/lu/author/introbooks/id1076678595
Kobo
https://www.kobo.com/us/en/search?query=introbooks&fcsearchfield=AuthorAmazon
https://www.amazon.com/IntroBooks/e/B01B9J0IFM/ref=dp_byline_cont_book_1
Audible
https://www.audible.com/search?searchAuthor=IntroBooks
Scribd
https://www.scribd.com/author/443542810/IntroBooks
IntroBooks
https://readintrobooks.com
The beginning of this economic concept, #economies of the scale, can be dated back to Adam Smith who was a Scottish pioneer of political economy and an important key figure during the Scottish Enlightenment Era and was based on the idea of obtaining greater production return profits through the use of the division of labor.
#Economiesofthescale are referred to as cost advantages that a company gets by altering its levels of production processes.
The company gets its advantages through economies of scale due to the inverse relationship that exists between the per unit fixed cost and the quantity produced.
The lesser the quantity of produce, greater will be the per unit fixed cost of the product.
The implementation of the economies of scale can take place at any of the firm stages of the production processes including all the levels economic production of the commodity except the one that comprises the involvement of the buyer.

10:08

Y2 6) Economies and Diseconomies of Scale

Y2 6) Economies and Diseconomies of Scale

Y2 6) Economies and Diseconomies of Scale

Y2 6) Economies and Diseconomies of Scale. Everything you need to know regarding Economies and Diseconomies of Scale, the link to the long run average cost curve and returns to scale
For Products, Services and Bookings visit https://econplusdal.com
Instagram: https://www.instagram.com/econplusdal
Twitter: https://twitter.com/econplusdal
Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
End Music: Relax byPeyruis https://soundcloud.com/peyruis Creative Commons — Attribution3.0 Unported — CC BY 3.0http://creativecommons.org/licenses/by/3.0/ Music promoted by AudioLibrary https://youtu.be/NvCDF7iUgIA

4:16

Economies of Scale and Comparative Advantage

Economies of Scale and Comparative Advantage

Economies of Scale and Comparative Advantage

Economies of scale and comparative advantage let us make bigger and better oranges, grapes, and everything else. For more Dan Russell, watch https://www.youtube.com/watch?v=_sLET3sqMgU
Russell, Daniel. "Economies of Scale and Comparative Advantage." YouTube. Learn Liberty, 15 June 2017.
SUBSCRIBE: http://bit.ly/2dUx6wg
LEARN MORE:
What Caused The Economic Boom of Wealth? - Learn Liberty (video): ProfessorDeirdre McCloskey explains the explosion of wealth in the world since 1800, and how all that wealth was created. https://www.youtube.com/watch?v=a0nsKBx77EQ
"Trade Is Made of Win," Part 1: Wealth Creation (video): Professor Art Carden explains how exchange and trade create wealth for everyone involved. https://www.youtube.com/watch?v=y0gGyeA-8C4
When JobsKill Wealth (blog): Professor GaryGalles makes the case that instead of being so focused on “creating jobs,” we should be focused on creating wealth. http://www.learnliberty.org/blog/when-jobs-kill-wealth/
TRANSCRIPT:
For a full transcript please visit: http://www.learnliberty.org/videos/economies-of-scale-and-comparative-advantage
LEARN LIBERTY:
Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://www.learnliberty.org/.

Economies of Scale and Long-Run Costs- Micro Topic 3.3

In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the second focuses on costs. I also cover t he idea of diseconomies of scale. And, of course, you get a bonus round. Let me know what you think and please subscribe.
Video about short run production-
https://www.youtube.com/watch?v=xLSRMt-wWAM
Need help? Check out the UltimateReviewPacket for FREE: https://www.acdcecon.com/review-packet
WatchEpisodes of Econmovies-
https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH
Check out the TV showHow It's Made to see more economies of scale at work-
https://www.youtube.com/channel/UCjHsPBHX1...

published: 17 Nov 2015

economies of scale

Why Chicken Sandwiches Don't Cost $1500

Check out Lumerit to learn how you can do college for $4,000 a year or less: https://go.lumerit.com/wendover
AndyGeorge's Channel (How to Make Everything): https://www.youtube.com/channel/UCfIqCzQJXvYj9ssCoHq327g
SupportWendover Productions on Patreon: http://patreon.com/wendoverproductions
Chances are if you make a chicken sandwich yourself it will cost less than $5, but Andy George's chicken sandwich cost $1,500 because he made everything from scratch. What causes this huge difference in cost between chicken sandwiches made from scratch and bought at the grocery store?
Big thanks to https://www.shutterstock.com for providing loads of great stock footage for this video.
Youtube: http://www.YouTube.com/WendoverProductions
Twitter: http://www.Twitter.com/WendoverPro
Email: WendoverPr...

published: 08 Nov 2016

Economies of Scale

Business students need to be aware of the concept of economies of scale, which enable a business to benefit from lower unit costs as output rises. This revision video explains the concept.

published: 24 Apr 2016

Economies of Scale

If you like the video please like & share the video & do subscribe to this channel for more such video. Thank you for watching the video.

published: 12 Mar 2018

economies of scale - a quick explanation

published: 24 Sep 2010

Economies of Scale vs Economies of Scope | Top Differences You Must Know

In this video, we will see the main differences between Economies of Scale vs Economies of Scope
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
-------------------------------------------------------------------------------------------------
Economies of Scale are applied for a very long time in industry.Whereas, Economies of Scope is relatively new approach to business economics and strategy.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞?
-----------------------------------------------------
Economies of Scale occur when a firm reaches a manufacturing point where production costs no longer increase, but are lowered. It only happens in the production of bulk.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞?
-------------------------------------------------------
Economies of Scope occur when a company makes a va...

Click here to discover how to drive sales to your products or services online with one simple formula: http://www.deytips.com/theformula
Learn more about the formula here:
https://www.youtube.com/watch?v=fGnsAwEB7OM --~--
Click here: http://www.deytips.com/advanced/expanding-ebay-business/
Let me sell your products or services for you: http://www.proudagent.com
Economies of scale definition: Economies of scale is simply the decrease in costs that a business experiences as a result of that particular business growing in size.
Why is economies of scale important?:
In this video I don't only define economies of scale but I also speak about how it can practically help you and your business. If you are serious about really growing your eBay sales, it’s time to start to scale your busin...

published: 08 Sep 2015

Example for Economies of Scale

Should you buy a single product while ordering something online or you should order everything you need at once?
As an example for economies of scale, I try to answer the question in a simplified manner.

published: 08 Sep 2017

Introduction to Economics of Scale

Discover our eBooks and Audiobooks on
Google Play Store
https://play.google.com/store/books/author?id=IntroBooks
AppleBooks
https://books.apple.com/lu/author/introbooks/id1076678595
Kobo
https://www.kobo.com/us/en/search?query=introbooks&fcsearchfield=AuthorAmazon
https://www.amazon.com/IntroBooks/e/B01B9J0IFM/ref=dp_byline_cont_book_1
Audible
https://www.audible.com/search?searchAuthor=IntroBooks
Scribd
https://www.scribd.com/author/443542810/IntroBooks
IntroBooks
https://readintrobooks.com
The beginning of this economic concept, #economies of the scale, can be dated back to Adam Smith who was a Scottish pioneer of political economy and an important key figure during the Scottish Enlightenment Era and was based on the idea of obtaining greater production return profits through the use...

published: 09 Aug 2018

Y2 6) Economies and Diseconomies of Scale

Y2 6) Economies and Diseconomies of Scale. Everything you need to know regarding Economies and Diseconomies of Scale, the link to the long run average cost curve and returns to scale
For Products, Services and Bookings visit https://econplusdal.com
Instagram: https://www.instagram.com/econplusdal
Twitter: https://twitter.com/econplusdal
Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
End Music: Relax byPeyruis https://soundcloud.com/peyruis Creative Commons — Attribution3.0 Unported — CC BY 3.0http://creativecommons.org/licenses/by/3.0/ Music promoted by AudioLibrary https://youtu.be/NvCDF7iUgIA

Economies of Scale and Long-Run Costs- Micro Topic 3.3

In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and ...

In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the second focuses on costs. I also cover t he idea of diseconomies of scale. And, of course, you get a bonus round. Let me know what you think and please subscribe.
Video about short run production-
https://www.youtube.com/watch?v=xLSRMt-wWAM
Need help? Check out the UltimateReviewPacket for FREE: https://www.acdcecon.com/review-packet
WatchEpisodes of Econmovies-
https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH
Check out the TV showHow It's Made to see more economies of scale at work-
https://www.youtube.com/channel/UCjHsPBHX1NNbIqTy4eXVTig

In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the second focuses on costs. I also cover t he idea of diseconomies of scale. And, of course, you get a bonus round. Let me know what you think and please subscribe.
Video about short run production-
https://www.youtube.com/watch?v=xLSRMt-wWAM
Need help? Check out the UltimateReviewPacket for FREE: https://www.acdcecon.com/review-packet
WatchEpisodes of Econmovies-
https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH
Check out the TV showHow It's Made to see more economies of scale at work-
https://www.youtube.com/channel/UCjHsPBHX1NNbIqTy4eXVTig

Check out Lumerit to learn how you can do college for $4,000 a year or less: https://go.lumerit.com/wendover
AndyGeorge's Channel (How to Make Everything): https://www.youtube.com/channel/UCfIqCzQJXvYj9ssCoHq327g
SupportWendover Productions on Patreon: http://patreon.com/wendoverproductions
Chances are if you make a chicken sandwich yourself it will cost less than $5, but Andy George's chicken sandwich cost $1,500 because he made everything from scratch. What causes this huge difference in cost between chicken sandwiches made from scratch and bought at the grocery store?
Big thanks to https://www.shutterstock.com for providing loads of great stock footage for this video.
Youtube: http://www.YouTube.com/WendoverProductions
Twitter: http://www.Twitter.com/WendoverPro
Email: WendoverProductions@gmail.com
Reddit: http://Reddit.com/r/WendoverProductions
Music by LewisBergenSound Design by Graham Haerther
Big thanks to Patrons: Peter Ramkissoon, Jon, f4r, KonradArmitage, Iracha Tantiwongchaichan, BradyBellini, TarasHalan, Maco2035, Connor J Smith, Victor Zimmer, JoshBerger

Check out Lumerit to learn how you can do college for $4,000 a year or less: https://go.lumerit.com/wendover
AndyGeorge's Channel (How to Make Everything): https://www.youtube.com/channel/UCfIqCzQJXvYj9ssCoHq327g
SupportWendover Productions on Patreon: http://patreon.com/wendoverproductions
Chances are if you make a chicken sandwich yourself it will cost less than $5, but Andy George's chicken sandwich cost $1,500 because he made everything from scratch. What causes this huge difference in cost between chicken sandwiches made from scratch and bought at the grocery store?
Big thanks to https://www.shutterstock.com for providing loads of great stock footage for this video.
Youtube: http://www.YouTube.com/WendoverProductions
Twitter: http://www.Twitter.com/WendoverPro
Email: WendoverProductions@gmail.com
Reddit: http://Reddit.com/r/WendoverProductions
Music by LewisBergenSound Design by Graham Haerther
Big thanks to Patrons: Peter Ramkissoon, Jon, f4r, KonradArmitage, Iracha Tantiwongchaichan, BradyBellini, TarasHalan, Maco2035, Connor J Smith, Victor Zimmer, JoshBerger

Economies of Scale vs Economies of Scope | Top Differences You Must Know

In this video, we will see the main differences between Economies of Scale vs Economies of Scope
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
--------...

In this video, we will see the main differences between Economies of Scale vs Economies of Scope
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
-------------------------------------------------------------------------------------------------
Economies of Scale are applied for a very long time in industry.Whereas, Economies of Scope is relatively new approach to business economics and strategy.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞?
-----------------------------------------------------
Economies of Scale occur when a firm reaches a manufacturing point where production costs no longer increase, but are lowered. It only happens in the production of bulk.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞?
-------------------------------------------------------
Economies of Scope occur when a company makes a variety of products and production costs are reduced due to manufacturing variety of products.
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐊𝐞𝐲 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
--------------------------------------------------------------------------------------------------------
#1 - Economies of scale is all about increasing production units. Whereas, Economies of scope is all about increasing production varieties.
#2 - Economies of scale focus on only one type of product. Whereas, Economies of scope focus on product varieties.
#3 - Economies of scale is relatively old concept.Whereas, Economies of scope is a relatively new idea.
#4 - Economies of scale depends more on one product's production capacity.Whereas, Economies of Scope depends more on the firm's infrastructure to produce various products under one heading.
If you want to know more about differences between 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞, you can visit the 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐡𝐞𝐫𝐞:-
https://www.wallstreetmojo.com/economies-of-scale-vs-economies-of-scope/

In this video, we will see the main differences between Economies of Scale vs Economies of Scope
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
-------------------------------------------------------------------------------------------------
Economies of Scale are applied for a very long time in industry.Whereas, Economies of Scope is relatively new approach to business economics and strategy.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞?
-----------------------------------------------------
Economies of Scale occur when a firm reaches a manufacturing point where production costs no longer increase, but are lowered. It only happens in the production of bulk.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞?
-------------------------------------------------------
Economies of Scope occur when a company makes a variety of products and production costs are reduced due to manufacturing variety of products.
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐊𝐞𝐲 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
--------------------------------------------------------------------------------------------------------
#1 - Economies of scale is all about increasing production units. Whereas, Economies of scope is all about increasing production varieties.
#2 - Economies of scale focus on only one type of product. Whereas, Economies of scope focus on product varieties.
#3 - Economies of scale is relatively old concept.Whereas, Economies of scope is a relatively new idea.
#4 - Economies of scale depends more on one product's production capacity.Whereas, Economies of Scope depends more on the firm's infrastructure to produce various products under one heading.
If you want to know more about differences between 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞, you can visit the 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐡𝐞𝐫𝐞:-
https://www.wallstreetmojo.com/economies-of-scale-vs-economies-of-scope/

Click here to discover how to drive sales to your products or services online with one simple formula: http://www.deytips.com/theformula
Learn more about the ...

Click here to discover how to drive sales to your products or services online with one simple formula: http://www.deytips.com/theformula
Learn more about the formula here:
https://www.youtube.com/watch?v=fGnsAwEB7OM --~--
Click here: http://www.deytips.com/advanced/expanding-ebay-business/
Let me sell your products or services for you: http://www.proudagent.com
Economies of scale definition: Economies of scale is simply the decrease in costs that a business experiences as a result of that particular business growing in size.
Why is economies of scale important?:
In this video I don't only define economies of scale but I also speak about how it can practically help you and your business. If you are serious about really growing your eBay sales, it’s time to start to scale your business. Although scale may seem like something daunting, if done correctly, it could mean a sizable increase in your profit margins. In this video I explain the benefits of economies of scale and I demonstrate how this concept could be used to expand your eBay selling into a fully blown eCommerce business. Economies of scale is an economic term and is used to describe the financial advantages to expanding your business.
Subscribe:
http://www.deytips.com/subscribe
Facebook:
http://www.deytips.com/facebookpage
Twitter:
https://twitter.com/Deytips
Pinterest:
https://uk.pinterest.com/deytips/
Google plus:
http://www.deytips.com/googleplus
Udemy:
https://www.udemy.com/u/sarmaddey/
LinkedIn:
http://www.deytips.com/linkedin
This video URL:
http://youtu.be/rYuYAH-Juws
Business email:
Sam@deytips.com
Sam Dey

Click here to discover how to drive sales to your products or services online with one simple formula: http://www.deytips.com/theformula
Learn more about the formula here:
https://www.youtube.com/watch?v=fGnsAwEB7OM --~--
Click here: http://www.deytips.com/advanced/expanding-ebay-business/
Let me sell your products or services for you: http://www.proudagent.com
Economies of scale definition: Economies of scale is simply the decrease in costs that a business experiences as a result of that particular business growing in size.
Why is economies of scale important?:
In this video I don't only define economies of scale but I also speak about how it can practically help you and your business. If you are serious about really growing your eBay sales, it’s time to start to scale your business. Although scale may seem like something daunting, if done correctly, it could mean a sizable increase in your profit margins. In this video I explain the benefits of economies of scale and I demonstrate how this concept could be used to expand your eBay selling into a fully blown eCommerce business. Economies of scale is an economic term and is used to describe the financial advantages to expanding your business.
Subscribe:
http://www.deytips.com/subscribe
Facebook:
http://www.deytips.com/facebookpage
Twitter:
https://twitter.com/Deytips
Pinterest:
https://uk.pinterest.com/deytips/
Google plus:
http://www.deytips.com/googleplus
Udemy:
https://www.udemy.com/u/sarmaddey/
LinkedIn:
http://www.deytips.com/linkedin
This video URL:
http://youtu.be/rYuYAH-Juws
Business email:
Sam@deytips.com
Sam Dey

Example for Economies of Scale

Should you buy a single product while ordering something online or you should order everything you need at once?
As an example for economies of scale, I try to...

Should you buy a single product while ordering something online or you should order everything you need at once?
As an example for economies of scale, I try to answer the question in a simplified manner.

Should you buy a single product while ordering something online or you should order everything you need at once?
As an example for economies of scale, I try to answer the question in a simplified manner.

Discover our eBooks and Audiobooks on
Google Play Store
https://play.google.com/store/books/author?id=IntroBooks
AppleBooks
https://books.apple.com/lu/author/introbooks/id1076678595
Kobo
https://www.kobo.com/us/en/search?query=introbooks&fcsearchfield=AuthorAmazon
https://www.amazon.com/IntroBooks/e/B01B9J0IFM/ref=dp_byline_cont_book_1
Audible
https://www.audible.com/search?searchAuthor=IntroBooks
Scribd
https://www.scribd.com/author/443542810/IntroBooks
IntroBooks
https://readintrobooks.com
The beginning of this economic concept, #economies of the scale, can be dated back to Adam Smith who was a Scottish pioneer of political economy and an important key figure during the Scottish Enlightenment Era and was based on the idea of obtaining greater production return profits through the use of the division of labor.
#Economiesofthescale are referred to as cost advantages that a company gets by altering its levels of production processes.
The company gets its advantages through economies of scale due to the inverse relationship that exists between the per unit fixed cost and the quantity produced.
The lesser the quantity of produce, greater will be the per unit fixed cost of the product.
The implementation of the economies of scale can take place at any of the firm stages of the production processes including all the levels economic production of the commodity except the one that comprises the involvement of the buyer.

Discover our eBooks and Audiobooks on
Google Play Store
https://play.google.com/store/books/author?id=IntroBooks
AppleBooks
https://books.apple.com/lu/author/introbooks/id1076678595
Kobo
https://www.kobo.com/us/en/search?query=introbooks&fcsearchfield=AuthorAmazon
https://www.amazon.com/IntroBooks/e/B01B9J0IFM/ref=dp_byline_cont_book_1
Audible
https://www.audible.com/search?searchAuthor=IntroBooks
Scribd
https://www.scribd.com/author/443542810/IntroBooks
IntroBooks
https://readintrobooks.com
The beginning of this economic concept, #economies of the scale, can be dated back to Adam Smith who was a Scottish pioneer of political economy and an important key figure during the Scottish Enlightenment Era and was based on the idea of obtaining greater production return profits through the use of the division of labor.
#Economiesofthescale are referred to as cost advantages that a company gets by altering its levels of production processes.
The company gets its advantages through economies of scale due to the inverse relationship that exists between the per unit fixed cost and the quantity produced.
The lesser the quantity of produce, greater will be the per unit fixed cost of the product.
The implementation of the economies of scale can take place at any of the firm stages of the production processes including all the levels economic production of the commodity except the one that comprises the involvement of the buyer.

Economies of Scale and Comparative Advantage

Economies of scale and comparative advantage let us make bigger and better oranges, grapes, and everything else. For more Dan Russell, watch https://www.youtube...

Economies of scale and comparative advantage let us make bigger and better oranges, grapes, and everything else. For more Dan Russell, watch https://www.youtube.com/watch?v=_sLET3sqMgU
Russell, Daniel. "Economies of Scale and Comparative Advantage." YouTube. Learn Liberty, 15 June 2017.
SUBSCRIBE: http://bit.ly/2dUx6wg
LEARN MORE:
What Caused The Economic Boom of Wealth? - Learn Liberty (video): ProfessorDeirdre McCloskey explains the explosion of wealth in the world since 1800, and how all that wealth was created. https://www.youtube.com/watch?v=a0nsKBx77EQ
"Trade Is Made of Win," Part 1: Wealth Creation (video): Professor Art Carden explains how exchange and trade create wealth for everyone involved. https://www.youtube.com/watch?v=y0gGyeA-8C4
When JobsKill Wealth (blog): Professor GaryGalles makes the case that instead of being so focused on “creating jobs,” we should be focused on creating wealth. http://www.learnliberty.org/blog/when-jobs-kill-wealth/
TRANSCRIPT:
For a full transcript please visit: http://www.learnliberty.org/videos/economies-of-scale-and-comparative-advantage
LEARN LIBERTY:
Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://www.learnliberty.org/.

Economies of scale and comparative advantage let us make bigger and better oranges, grapes, and everything else. For more Dan Russell, watch https://www.youtube.com/watch?v=_sLET3sqMgU
Russell, Daniel. "Economies of Scale and Comparative Advantage." YouTube. Learn Liberty, 15 June 2017.
SUBSCRIBE: http://bit.ly/2dUx6wg
LEARN MORE:
What Caused The Economic Boom of Wealth? - Learn Liberty (video): ProfessorDeirdre McCloskey explains the explosion of wealth in the world since 1800, and how all that wealth was created. https://www.youtube.com/watch?v=a0nsKBx77EQ
"Trade Is Made of Win," Part 1: Wealth Creation (video): Professor Art Carden explains how exchange and trade create wealth for everyone involved. https://www.youtube.com/watch?v=y0gGyeA-8C4
When JobsKill Wealth (blog): Professor GaryGalles makes the case that instead of being so focused on “creating jobs,” we should be focused on creating wealth. http://www.learnliberty.org/blog/when-jobs-kill-wealth/
TRANSCRIPT:
For a full transcript please visit: http://www.learnliberty.org/videos/economies-of-scale-and-comparative-advantage
LEARN LIBERTY:
Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://www.learnliberty.org/.

Economies of Scale and Long-Run Costs- Micro Topic 3.3

In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the second focuses on costs. I also cover t he idea of diseconomies of scale. And, of course, you get a bonus round. Let me know what you think and please subscribe.
Video about short run production-
https://www.youtube.com/watch?v=xLSRMt-wWAM
Need help? Check out the UltimateReviewPacket for FREE: https://www.acdcecon.com/review-packet
WatchEpisodes of Econmovies-
https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH
Check out the TV showHow It's Made to see more economies of scale at work-
https://www.youtube.com/channel/UCjHsPBHX1NNbIqTy4eXVTig

Why Chicken Sandwiches Don't Cost $1500

Check out Lumerit to learn how you can do college for $4,000 a year or less: https://go.lumerit.com/wendover
AndyGeorge's Channel (How to Make Everything): https://www.youtube.com/channel/UCfIqCzQJXvYj9ssCoHq327g
SupportWendover Productions on Patreon: http://patreon.com/wendoverproductions
Chances are if you make a chicken sandwich yourself it will cost less than $5, but Andy George's chicken sandwich cost $1,500 because he made everything from scratch. What causes this huge difference in cost between chicken sandwiches made from scratch and bought at the grocery store?
Big thanks to https://www.shutterstock.com for providing loads of great stock footage for this video.
Youtube: http://www.YouTube.com/WendoverProductions
Twitter: http://www.Twitter.com/WendoverPro
Email: WendoverProductions@gmail.com
Reddit: http://Reddit.com/r/WendoverProductions
Music by LewisBergenSound Design by Graham Haerther
Big thanks to Patrons: Peter Ramkissoon, Jon, f4r, KonradArmitage, Iracha Tantiwongchaichan, BradyBellini, TarasHalan, Maco2035, Connor J Smith, Victor Zimmer, JoshBerger

Economies of Scale vs Economies of Scope | Top Differences You Must Know

In this video, we will see the main differences between Economies of Scale vs Economies of Scope
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
-------------------------------------------------------------------------------------------------
Economies of Scale are applied for a very long time in industry.Whereas, Economies of Scope is relatively new approach to business economics and strategy.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞?
-----------------------------------------------------
Economies of Scale occur when a firm reaches a manufacturing point where production costs no longer increase, but are lowered. It only happens in the production of bulk.
𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞?
-------------------------------------------------------
Economies of Scope occur when a company makes a variety of products and production costs are reduced due to manufacturing variety of products.
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞 𝐊𝐞𝐲 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
--------------------------------------------------------------------------------------------------------
#1 - Economies of scale is all about increasing production units. Whereas, Economies of scope is all about increasing production varieties.
#2 - Economies of scale focus on only one type of product. Whereas, Economies of scope focus on product varieties.
#3 - Economies of scale is relatively old concept.Whereas, Economies of scope is a relatively new idea.
#4 - Economies of scale depends more on one product's production capacity.Whereas, Economies of Scope depends more on the firm's infrastructure to produce various products under one heading.
If you want to know more about differences between 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐚𝐥𝐞 𝐯𝐬 𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐞𝐬 𝐨𝐟 𝐒𝐜𝐨𝐩𝐞, you can visit the 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐡𝐞𝐫𝐞:-
https://www.wallstreetmojo.com/economies-of-scale-vs-economies-of-scope/

Click here to discover how to drive sales to your products or services online with one simple formula: http://www.deytips.com/theformula
Learn more about the formula here:
https://www.youtube.com/watch?v=fGnsAwEB7OM --~--
Click here: http://www.deytips.com/advanced/expanding-ebay-business/
Let me sell your products or services for you: http://www.proudagent.com
Economies of scale definition: Economies of scale is simply the decrease in costs that a business experiences as a result of that particular business growing in size.
Why is economies of scale important?:
In this video I don't only define economies of scale but I also speak about how it can practically help you and your business. If you are serious about really growing your eBay sales, it’s time to start to scale your business. Although scale may seem like something daunting, if done correctly, it could mean a sizable increase in your profit margins. In this video I explain the benefits of economies of scale and I demonstrate how this concept could be used to expand your eBay selling into a fully blown eCommerce business. Economies of scale is an economic term and is used to describe the financial advantages to expanding your business.
Subscribe:
http://www.deytips.com/subscribe
Facebook:
http://www.deytips.com/facebookpage
Twitter:
https://twitter.com/Deytips
Pinterest:
https://uk.pinterest.com/deytips/
Google plus:
http://www.deytips.com/googleplus
Udemy:
https://www.udemy.com/u/sarmaddey/
LinkedIn:
http://www.deytips.com/linkedin
This video URL:
http://youtu.be/rYuYAH-Juws
Business email:
Sam@deytips.com
Sam Dey

Example for Economies of Scale

Should you buy a single product while ordering something online or you should order everything you need at once?
As an example for economies of scale, I try to answer the question in a simplified manner.

Introduction to Economics of Scale

Discover our eBooks and Audiobooks on
Google Play Store
https://play.google.com/store/books/author?id=IntroBooks
AppleBooks
https://books.apple.com/lu/author/introbooks/id1076678595
Kobo
https://www.kobo.com/us/en/search?query=introbooks&fcsearchfield=AuthorAmazon
https://www.amazon.com/IntroBooks/e/B01B9J0IFM/ref=dp_byline_cont_book_1
Audible
https://www.audible.com/search?searchAuthor=IntroBooks
Scribd
https://www.scribd.com/author/443542810/IntroBooks
IntroBooks
https://readintrobooks.com
The beginning of this economic concept, #economies of the scale, can be dated back to Adam Smith who was a Scottish pioneer of political economy and an important key figure during the Scottish Enlightenment Era and was based on the idea of obtaining greater production return profits through the use of the division of labor.
#Economiesofthescale are referred to as cost advantages that a company gets by altering its levels of production processes.
The company gets its advantages through economies of scale due to the inverse relationship that exists between the per unit fixed cost and the quantity produced.
The lesser the quantity of produce, greater will be the per unit fixed cost of the product.
The implementation of the economies of scale can take place at any of the firm stages of the production processes including all the levels economic production of the commodity except the one that comprises the involvement of the buyer.

Economies of Scale and Comparative Advantage

Economies of scale and comparative advantage let us make bigger and better oranges, grapes, and everything else. For more Dan Russell, watch https://www.youtube.com/watch?v=_sLET3sqMgU
Russell, Daniel. "Economies of Scale and Comparative Advantage." YouTube. Learn Liberty, 15 June 2017.
SUBSCRIBE: http://bit.ly/2dUx6wg
LEARN MORE:
What Caused The Economic Boom of Wealth? - Learn Liberty (video): ProfessorDeirdre McCloskey explains the explosion of wealth in the world since 1800, and how all that wealth was created. https://www.youtube.com/watch?v=a0nsKBx77EQ
"Trade Is Made of Win," Part 1: Wealth Creation (video): Professor Art Carden explains how exchange and trade create wealth for everyone involved. https://www.youtube.com/watch?v=y0gGyeA-8C4
When JobsKill Wealth (blog): Professor GaryGalles makes the case that instead of being so focused on “creating jobs,” we should be focused on creating wealth. http://www.learnliberty.org/blog/when-jobs-kill-wealth/
TRANSCRIPT:
For a full transcript please visit: http://www.learnliberty.org/videos/economies-of-scale-and-comparative-advantage
LEARN LIBERTY:
Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://www.learnliberty.org/.

Economies of scale

In microeconomics, economies of scale are the cost advantages that enterprises obtain due to size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.

Often operational efficiency is also greater with increasing scale, leading to lower variable cost as well.

Economies of scale apply to a variety of organizational and business situations and at various levels, such as a business or manufacturing unit, plant or an entire enterprise. For example, a large manufacturing facility would be expected to have a lower cost per unit of output than a smaller facility, all other factors being equal, while a company with many facilities should have a cost advantage over a competitor with fewer.

Some economies of scale, such as capital cost of manufacturing facilities and friction loss of transportation and industrial equipment, have a physical or engineering basis.

The economic concept dates back to Adam Smith and the idea of obtaining larger production returns through the use of division of labor.Diseconomies of scale are the opposite.